No, it is an estimate of the revisions they will make during the benchmark adjustment of the Jan report. I'm sure you remember this Jan's revision when the ZeroHedge clowns were screaming that 1 million left the labor force during Jan (a completely untrue claim). However, the fact that the initial adjustment estimate is positive is consistent with the idea that job growth is outstripping payroll figures. I believe it is pretty common that these things get very disjointed during rapid acceleration or deceleration. I'll pass on a link supporting that if I can find one.
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Unemployment lowest since 2008 (2 Viewers)
- Thread starter timschochet
- Start date
Only if you get excited about part time work paying less than $8 per hour in place of full time work paying over $12 per hour with benefits. Yeah, great.
JHuber77
Footballguy
no really its not.
glock
"Don't grumble, give a whistle!"
Because companies- like the one I work for- are putting the screws to the workforce, trying to get water from a stone. And it's working. The share holders love it. They know very few will just up and leave given the market. Any that do just make it easier to maximize productivity insanity.
Arsenal of Doom
Footballguy
It's in the revisions. +40K in July, +96K in August. Those months are now at 181,000 and 142,000 respectively.
They are different surveys.
It was the largest single month change in the unemployment rate in 29 years. Bull****.Does anybody here honestly think that our present economy is performing anywhere close the Reagan recovery of the early 1980's?
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jamny
Footballguy
And automation is exploding, making many jobs obsolete.
Henry Ford
Footballguy
A huge number of lost jobs are related to the housing market - skilled tradesperson jobs like plumbing, carpentry, etc.
NYG Endzone
Footballguy
Does anyone actually think unemployment/underemployment is improving? Sure if you consider people benefiting from these great numbers: those "lucky" enough to be forced into part-time work or excluded "discouraged" workers who are sipping margaritas at their beach side residence.
Unemployment has NOT improved
http://www.shadowstats.com/alternate_data/unemployment-charts
http://www.nytimes.com/2012/10/06/business/economy/us-added-114000-jobs-in-september-rate-drops-to-7-8.html?_r=1&pagewanted=all
Unemployment has NOT improved
http://www.shadowstats.com/alternate_data/unemployment-charts
http://www.nytimes.com/2012/10/06/business/economy/us-added-114000-jobs-in-september-rate-drops-to-7-8.html?_r=1&pagewanted=all
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Sorry to hear, sounds a lot like what goes on in my neck of the woods. We like to double-down on the lack of training by laying off the people that actually have experience. I hope the company you work for is more competent and can sniff this out.I'm probably going to lose my job because I've raised such a stink about this. Boss wants answers, I tell him what the problem is and where the problem originates. He says to fix it, I say no one has trained us how to do it in the system and our license is expired with our software so we can't even call support for help. He says to manually do it myself, I say I can do that but it's going to take 3x as long, will get us even further behind than we already are, and the same problem will be there when we try to do this again next quarter. He says I'm busy and walks away. Told him last month that we're not doing this anymore, not only are we stunting our growth long term because we spend too much time trying to patch holes instead of spending our time doing more profitable tasks but now it's hurting our bottom line too - a couple of these problems have pissed customers off enough that they've walked away. Now he's spent more time than usual on the phone recently and has taken an unusual amount of them outside or in the conference room.My company doesn't really bother training anyone....and it shows.
This is probably for the best...
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There are several reasons, but one of the biggest IMO is that many of these jobs never should have existed in the first place. So many people got into finance and housing related fields during the 90's and early 2000's, and made a LOT of money doing so. Once those bubbles popped, there go the jobs.
Unskewedeconomics.com
glock
"Don't grumble, give a whistle!"
Making the economy NOT always the reason for a lack of jobs/upward trend in unemployment. Or at least not declining revenues. Employers can give a rats ### about the workforce these days. Many have found that they can do better with less but more abused employees. What's a POTUS to do?
timschochet
Footballguy
That's one way to look at it. Another way to look at is: less people are unemployed this month. Which is what the report showed. I prefer to see the cup as half full, you know?Only if you get excited about part time work paying less than $8 per hour in place of full time work paying over $12 per hour with benefits. Yeah, great.
Go DC Yourself
Footballguy
Yes, I'm sure the Obama administration is planning on fooling the public and winning an election all via an exotic statistic that has historically been ignored because it flucuates so wildly: http://data.bls.gov/pdq/SurveyOutputServlet
JHuber77
Footballguy
Of course it hasn't improved. We are exactly 1 month from the election and the unemployment numbers came out today. Not to mention there was a debate on this fact 2 days ago. This is all grandstanding by the current administration to garner votes. The same thing would be said of any politician in the same situation.
You are right, it is better than nothing. But let's not pretend this is great news. It will be great when we are adding 250K plus to the payroll numbers.That's one way to look at it. Another way to look at is: less people are unemployed this month. Which is what the report showed. I prefer to see the cup as half full, you know?Only if you get excited about part time work paying less than $8 per hour in place of full time work paying over $12 per hour with benefits. Yeah, great.
jamny
Footballguy
I agree the President faces a lot of problems and unemployment numbers aren't all his fault but he is elected to help solve these problems. Some of the blame has to be on him.
In Tim's world.
glock
"Don't grumble, give a whistle!"
And of course- society being what it is these days- we want what we want and we want it now. Even if it means turning around an economy that that took 8 years to slide as far as it did. The #####ing about no improvement began within months of Obama's election. Some of the blame falls on US. And corporate America.
MAC_32
Footballguy
Sounds like yours is worse, mine's just poorly run - yours just seems to have no morals or ethics, straight out of Office Space. Fire programmers with 5 years of experience, bring in new crop - don't train them then have the cream of the crop stick around for 5 years, flush them out, and repeat.Sorry to hear, sounds a lot like what goes on in my neck of the woods. We like to double-down on the lack of training by laying off the people that actually have experience. I hope the company you work for is more competent and can sniff this out.I'm probably going to lose my job because I've raised such a stink about this. Boss wants answers, I tell him what the problem is and where the problem originates. He says to fix it, I say no one has trained us how to do it in the system and our license is expired with our software so we can't even call support for help. He says to manually do it myself, I say I can do that but it's going to take 3x as long, will get us even further behind than we already are, and the same problem will be there when we try to do this again next quarter. He says I'm busy and walks away. Told him last month that we're not doing this anymore, not only are we stunting our growth long term because we spend too much time trying to patch holes instead of spending our time doing more profitable tasks but now it's hurting our bottom line too - a couple of these problems have pissed customers off enough that they've walked away. Now he's spent more time than usual on the phone recently and has taken an unusual amount of them outside or in the conference room.
Politician Spock
Footballguy
I see.It's not part time work.It's "half full" time work.That's one way to look at it. Another way to look at is: less people are unemployed this month. Which is what the report showed. I prefer to see the cup as half full, you know?Only if you get excited about part time work paying less than $8 per hour in place of full time work paying over $12 per hour with benefits. Yeah, great.
I think the POTUS should commit to investing in education/retraining, improving infrastructure, and reducing barriers to entry which allow the companies and industries of tomorrow to be built and thrive in a competitive marketplace.
timschochet
Footballguy
I wrote things are getting better. Which they are. Now personally I happen to. believe, for a variety of reasons, that things will be better in the long run if Romney wins the election, and it's one key reason I will be voting for him. But that has nothing to do with the fact that the current numbers are encouraging. I don't believe that Obama has much to do with the very latest round of numbers one way or another.
Thunderlips
Footballguy
Lotta Neo-Con whining and spin today. Who'd have thunk they didn't want the job market to get better until AFTER the election....
You've got it exactly right. Bob Slydell: What would you say ya do here?Sounds like yours is worse, mine's just poorly run - yours just seems to have no morals or ethics, straight out of Office Space. Fire programmers with 5 years of experience, bring in new crop - don't train them then have the cream of the crop stick around for 5 years, flush them out, and repeat.Sorry to hear, sounds a lot like what goes on in my neck of the woods. We like to double-down on the lack of training by laying off the people that actually have experience. I hope the company you work for is more competent and can sniff this out.I'm probably going to lose my job because I've raised such a stink about this. Boss wants answers, I tell him what the problem is and where the problem originates. He says to fix it, I say no one has trained us how to do it in the system and our license is expired with our software so we can't even call support for help. He says to manually do it myself, I say I can do that but it's going to take 3x as long, will get us even further behind than we already are, and the same problem will be there when we try to do this again next quarter. He says I'm busy and walks away. Told him last month that we're not doing this anymore, not only are we stunting our growth long term because we spend too much time trying to patch holes instead of spending our time doing more profitable tasks but now it's hurting our bottom line too - a couple of these problems have pissed customers off enough that they've walked away. Now he's spent more time than usual on the phone recently and has taken an unusual amount of them outside or in the conference room.
Tom Smykowski: Well look, I already told you! I deal with the ####### customers so the engineers don't have to! I have people skills! I am good at dealing with people! Can't you understand that? What the hell is wrong with you people?
SacramentoBob
Footballguy
The trend is for upward revisions, so I expect those September numbers to look better in a few months.
tommyGunZ
Footballguy
Why do you hate America?
SacramentoBob
Footballguy
At any rate, I think we can all agree that the Republican strategy of filibustering and enforcing budget discipline is working. The proof is right there in the job numbers.
You never believe Obama has anything to do with anything.
jamny
Footballguy
Why do you accept mediocrity?
I think Andy has a copyright on this shtick.
E Street Brat
Footballguy
Has the Lockheed Martin story made the ffa rounds yet?
SacramentoBob
Footballguy
At any rate, I think we can all agree that the Republican strategy of filibustering and enforcing budget discipline is working. The proof is right there in the job numbers.I just patented this shtick using Georgia font in size 5. :apple:
glock
"Don't grumble, give a whistle!"
Politician Spock
Footballguy
Employee: "Hey boss... where do we get this months household survey number?"Boss: "Ummmm.... just take the part time jobs number and increase it by 50%."
Employee: "Got it. Thanks!"
SacramentoBob
Footballguy
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jamny
Footballguy
So, just to be clear, you think everyone should be content with the results over the past 4 years. No one should voice displeasure over the numbers. Just let everything work itself out, it'll all be good. What would be a good timeline in your opinion? The end of Obama's second term? Give Hillary a chance to carry on what Obama has started in 2016? Hillary's second term?
Go DC Yourself
Footballguy
timschochet
Footballguy
Obama is a centrist Democrat. He's been a pretty good President. Outside of Obamacare, which I disapprove of, his main problem has not been his fault: Republican obstruction. Though I don't prefer him, I wouldn't mind if Obama gets reelected. I'm pretty satisfied either way.You never believe Obama has anything to do with anything.
glock
"Don't grumble, give a whistle!"
My place is moving tasks around between departments and looking for results without the training or manning. Then they make the failure to make goal a performance issue. And don't think quality will suffer.Sounds like yours is worse, mine's just poorly run - yours just seems to have no morals or ethics, straight out of Office Space. Fire programmers with 5 years of experience, bring in new crop - don't train them then have the cream of the crop stick around for 5 years, flush them out, and repeat.Sorry to hear, sounds a lot like what goes on in my neck of the woods. We like to double-down on the lack of training by laying off the people that actually have experience. I hope the company you work for is more competent and can sniff this out.I'm probably going to lose my job because I've raised such a stink about this. Boss wants answers, I tell him what the problem is and where the problem originates. He says to fix it, I say no one has trained us how to do it in the system and our license is expired with our software so we can't even call support for help. He says to manually do it myself, I say I can do that but it's going to take 3x as long, will get us even further behind than we already are, and the same problem will be there when we try to do this again next quarter. He says I'm busy and walks away. Told him last month that we're not doing this anymore, not only are we stunting our growth long term because we spend too much time trying to patch holes instead of spending our time doing more profitable tasks but now it's hurting our bottom line too - a couple of these problems have pissed customers off enough that they've walked away. Now he's spent more time than usual on the phone recently and has taken an unusual amount of them outside or in the conference room.
jamny
Footballguy
...slowly he turned...Obama is a centrist Democrat. He's been a pretty good President. Outside of Obamacare, which I disapprove of, his main problem has not been his fault: Republican obstruction. Though I don't prefer him, I wouldn't mind if Obama gets reelected. I'm pretty satisfied either way.You never believe Obama has anything to do with anything.
SeveredHorseHeads
Footballguy
I am kind of on board with this. I think that when a lot of companies shed jobs during the crisis, they realized a lot of people really weren't doing anything. I think companies were staffing at levels appropriate for the amount of work there was 10-15 years ago before many tasks became automated. My first job out of college was at a large bank and my entire team of 10 people probably did in total about 20 hours of actual work a week.
snogger
Footballguy
Our tax dollars hard at work..
I can't believe people still think either party gives a bleep about the average Joe.We get it Tim. You're hedging your bets so you'll look contemplative when the election is over, instead of wishy washy.You never believe Obama has anything to do with anything.
glock
"Don't grumble, give a whistle!"
I want to see negative momentum slowed. The manner in which the economy took a dive and unemployment rose just might mean we NEVER get back to the way we were.
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